Monthly Archives for
February 2006

One of These Things is Not Like the Other

Sing it with me: One of these things just doesn’t belong.

I went on a listing presentation appointment in a neighborhood close to my house last Friday. It was an adorable house and would be a dream to sell, so I’m really hoping they decide to use me, but for this post, that is all beside the point.

I was a bit early (as I am apt to be), so I drove down the street for awhile to kill some time. Like I said, it’s a neighborhood close to my house, but I can’t say I go driving around inside it very often. I came upon these three houses, right in a row:

That’s correct, right in the middle of this modest, mid-70s, West Mesa neighborhood someone decided to knock down their house and build a brand new veritable castle. And in case you missed it, yep, that is an oven outside of the next door neighbor’s house that is labeled ‘Free (It Works!)’:

Bizarre. Just bizarre.

When I told Jason about this house, he said it reminded him of the Double House in Dobson Ranch:

It’s definitely equally bizarre. I think I was in Junior High when the family who lived to the right bought the house to the left and built them together. It sits next to this teeny little thing:

I guess it’s their prerogative. Apparently both projects were OKed by the HOAs, so who am I to judge?

The Big Picture

OK, let’s take a second to reflect: Today it was 77 degrees in sunny Phoenix. I wore a tank top. Ben went swimming at the hotel pool with his grandma who’s in town visiting. This weekend I switched out our down comforter for a light ‘summer’ sleeping blanket. I was thinking it’s time I put away my tall boots; it’s gotten to be a bit inappropriate to wear them.

Now let’s think about the New Englanders. TWENTY-SEVEN INCHES OF SNOW IN CENTRAL PARK?! REALLY? So why is living in New York so awesome? I’m completely missing it. Ah well, I can’t be bothered with such confusing logic. I have pool sides to languish beside and margaritas to drink.

Say it with me people, “I LOVE LIVING IN ARIZONA!”

Weekend Plans

So what are you doing this weekends? What, no plans? Don’t worry, I can help!

Here are my two suggestions for fun Phoenix activities this weekend:

1. The Willo District Home Tour – Sunday, February 12, 10 AM to 4 PM, check out beautiful historic downtown Phoenix, tickets are $15. You can bet I’ll be there!

2. The VNSA Book Sale – Saturday and Sunday, a zillion books for sale (and cheap!). Sunday is half price day. I went a few years ago and it was AWESOME.

So there you go, no excuses, go out and have a fun weekend!

1031 Exchanges

And back to business we go.

I attended a class yesterday on 1031 Exchanges (also referred to as Starker Exchanges sometimes). It was held at the Wrigley Mansion near the Biltmore Hotel (which made me sorry I’d packed my laptop, but neglected to bring my camera, it has gorgeous views) and was taught by a real estate attorney and a CPA.

1031 Exchanges are something I already knew a tiny bit about from my licensing school; but we hadn’t spent enough time on them there for me to really get a good grasp of what they are and how they are useful, so I was very glad I attended this class. I now feel like I know enough to at least be aware of who to contact and who to refer my clients to assistance.

Basically, 1031 Exchanges are a type of real estate transaction used by investors to defer payment of income taxes when they sell an investment property. As I’m sure you know, in the US, we are required to pay both government and state taxes whenever we receive income. Income can consist of things like your salary, winnings from the lottery, or, of course, money made on the sale of a real estate investment. In short, 1031 Exchange allows an investor to sell a property, purchase another ‘like-kind’ property with his profits and put off paying his income taxes on that profit until he is finished investing.

The idea is that the money from the sale of the original property never actually comes into the hands of the seller. It is transfered to a Qualified Intermediary (QI), who will then transfer the money toward the purchase of the new property; thus the ‘exchange’ portion of this deal. It’s about trading properties to get a new investment (similar to stocks: dump what has reached it’s maximum potential to purchase what is still on it’s way up), whether it be two properties for one more expensive one, or one property to buy two cheaper ones. You will eventually pay taxes on the money you’ve made (well… unless of course you die; then your heirs inherit the property free and clear, except for estate taxes), but a 1031 Exchange allows you to delay the inevitable.

That said, the 1031 Exchange comes with a veritable mine-field of rules and regulations. The sucker could blow up at any minute. For instance, the time limits as to when you can do this exchange are very strict. You have 180 days (NOT SIX MONTHS) from the day you close escrow on the property you’ve sold to the expiration of the possibility of a 1031 Exchange, and there are NO EXCEPTIONS. There is also quite a bit of general confusion surrounding properties that are acceptable for a ‘like-kind’ exchange. And don’t forget the mass amount of paperwork, one misstep and it’s all over and done with.

This is why it is very important to have competent people advising and representing you. As your Realtor, I can point you in the correct direction as far as a good real estate attorney, a fabulous QI and a great CPA, because, as you can tell, it practically takes a village.

If you’re an investor or thinking of investing, make sure you are well-informed on the 1031 Exchange, it might be very useful soon.

29 Years of Cuteness

OK, so I swear I’m going to post about informative real estate stuff tomorrow, but I just have to give you one more personal tidbit because it is the most adorable thing I have ever seen in my entire life. Check this out. I’m convinced it’s not just adorable because I’m married to the blonde one. How much do you love twins? I just want to dip them in honey and eat them up. Cutest EVER. (I’m done, I promise. Sometimes you just have to let the gushiness take over.)

Pork and Green-bean Stir Fry

It’s still early enough in the year that I’m making a conscious effort to stick to my New Year’s resolutions. In the spirit of my ‘cook at least four nights a week’ resolution, last night I tried this new recipe from Martha’s little FOOD magazine. It was easy and we loved it.

Ingredients:

1 Pork Tenderloin
1 cup uncooked white rice
1 lb fresh green beans, trimmed
1 red bell pepper, sliced thinly
2 tablespoons soy sauce
1 tablespoon rice vinegar
1 teaspoon sugar
2 tablespoons minced peeled fresh ginger
Pinch of red pepper flakes
1/2 cup peanuts, chopped
3 tablespoons olive oil

Preparation:

Mix soy sauce, rice vinegar and sugar and set aside. Boil rice, 2 cups of water, a bit of salt and a tablespoon of butter (optional) and then turn to low and cover to simmer for 25 minutes. Cut pork tenderloin into smallish strips. Heat 1 tablespoon oil over med high heat. Saute 1/2 of pork and ginger until pork is cooked through. Repeat with 1 more tablespoon oil and rest of pork and ginger. Meanwhile, boil green beans until just underdone. Then saute red bell pepper, green beans and last tablespoon of oil on high until red bell is tender. Add pork, peanuts and soy sauce mixture. Stir together and then serve over rice.

The Anti-Arizona

We are back! We spent a long weekend in Portland, Oregon visiting family, but we are officially back in the land of hot and dry. Portland’s constant rain and unnatural greenery was quite a change for those of us who are used to life in a more sepia tone out here in the desert. However, it was a fun a gorgeous trip. The in-laws spoiled and entertained us silly. We shopped, ate, wine tasted, visited giant mutant fish and even snuck in a quick trip to the ER (don’t worry, everyone’s fine, we just couldn’t get a pediatrician to see Gray for the ear infection he had crop up again).

Here is a quick peek at the festivities:

For the full slide show, head here (go go go! I worked really hard on it!).

Anyway, I am back in action here in AZ. I have a full schedule for the week and will keep you updated on life in Phoenix Real Estate!

Happy Birthday, Dear Webmaster

Today is the big guy’s birthday (and of course his twin sister, Jen too!). He is officially ANCIENT. Seriously, 29, or, as I like to call it, PRACTICALLY 30! So Happy Birthday to my husband, Jason, my fabulous webmaster, partner in crime and soul-mate, and to his sweet sister, Jen, who is currently living large in a ‘flat’ in London:

This was the last time we saw Jen and her husband, Dave, on our trip to Mexico.

We are currently in Portland, Oregon visiting my in-laws for the birthday celebration (thus the lack of posting). We will be back late on Sunday and I’m preparing a photo essay of the trip for Monday. But feel free to email or call me, I’m still connected!

Haunted in the Ranch

At the garage sale last weekend (which was very successful, thanks for asking) we had lots of neighbors poking around, looking at stuff, chatting us up. I even got a good lead on a possible listing (more later, hopefully!). The wildest neighbor encounter, however, went something like this (cue scary music):

Crazy lady with short, crazy blonde hair: My friends used to live down the street, but they just sold their house.

Me: Really, which house?

CL: The white one with the black gate right around the corner across the street.

It’s a house that was for sale for just over a month. It was vacant for quite awhile and lots bigger than mine. It had a pool and was somewhat remodeled on the inside. I always meant to tour it before it was sold and just never got a chance.

Me: Really? That looked like a nice house, why did they move?

CL: Oh, because it was haunted.

Me: Excuse me? Did you say… haunted?

CL: Oh yeah, the daughter had all kinds of problems with the house. The ghost threw rocks at them inside the house when the alarm was on and at the windows. Nothing had ever happened until she took a trip to Guatemala, so we think she might have brought something back with her. They even tried to have a minister bless the house and nothing worked. So they moved.

Me: (Trying desperately to suppress laughter, incredulity, horror all at the same time) Right… well, I guess then you’d have to move.

CL: Yeah, it was too bad.

I’m a skeptic by nature, with an analytical mind that requires proof, or at least a logical explanation, but I have a conflicting obsession with the idea of ghosts. I’m a perfect mixture of my parents. I have a father who is an atheist and downplays and disbelieves just about everything and a mother who has tried, on several occasions, to teach herself to be psychic. She was sure my grandfather’s house in Minnesota was haunted and tells stories about the ghost in the apartment they lived in in Boston 30 years ago.

So I guess it makes queer sense that I love the real life ghost story shows even though I don’t really believe in them (but if I watch too close to bedtime I’m awake all night).

Anyway, apparently we have a haunted house down the street. I cannot tell you how bummed that makes me that I didn’t tour it. Man. It was my chance to see a haunted house that has been blessed by a holy man even and I missed it.

Boy was that lady crazy. Gotta love crazy neighbors.

Monthly Archives forFebruary 2006

Monthly Archives for
February 2006